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State/local taxes: bottom 20% pays twice the rate as top 1%

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State/local taxes: bottom 20% pays twice the rate as top 1%

Postby jonnygothispen » Thu Jan 31, 2013 12:59 pm

... nationwide, and about a 40% higher rate in Wisconsin. http://www.itep.org/whopays/
Wisconsin:
bottom 20% ~ 9.6%
second 20% ~ 10.7%
middle 20% ~ 10.7%
fourth 20% ~ 10.6%
next 15% ~ 9.7%
next 4% ~ 8.3%
top 1% ~ 6.9%


nationwide average:
The average overall effective state and local tax rates by income group nationwide are 11.1 percent for the bottom 20 percent, 9.4 percent for the middle 20 percent and 5.6 percent for the top 1 percent
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Re: State/local taxes: bottom 20% pays twice the rate as top

Postby Stella_Guru » Fri Feb 01, 2013 1:07 pm

Don't worry about it. The administration's four years of free money for Wall St. combined with tax benefits for big business will eventually "trickle down".
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